Question
Grove Corp. has revenues of $1,531,000 resulting in an operating income of $183,000. Average invested assets total $801,000. If sales increase by 10% and the
| Grove Corp. has revenues of $1,531,000 resulting in an operating income of $183,000. Average invested assets total $801,000. If sales increase by 10% and the investment level remains constant, what is the investment turnover? |
| 12.65% | |
| 1.91 | |
| 11.95% | |
| 2.10 |
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Auditing And Assurance Services An Integrated Approach
Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley
11th Edition
0131867121, 978-0131867123
